March 10, 2020 / 3:15 AM / 23 days ago

BOJ official says ready to take additional steps to stabilise markets

TOKYO, March 10 (Reuters) - The Bank of Japan will not hesitate to take additional steps if necessary to stabilise markets, which are making “nervous” movements, a senior central bank official said on Tuesday.

Since issuing an emergency statement last week pledging to stabilise markets, the BOJ has been buying a record 100 billion yen ($969 million) of exchange-traded funds (ETF) whenever it steps into the market - bigger than the previous amount of 70 billion yen.

“We’ll strive to take appropriate action with a close eye on daily market moves,” Eiji Maeda, the BOJ’s executive director, told parliament. “We of course won’t hesitate to take additional measures if needed, depending on future market developments.”

$1 = 103.2100 yen Reporting by Leika Kihara; Editing by Chris Gallagher

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